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Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
 The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its mining business contribute a third of the firm’s net revenue in the next three to five years, its investor relations division said on Tuesday.
During 2009 when the heavy-equipment business was hit by the global financial crisis, the company managed to post only modest revenue growth of 4.8 percent, strongly supported by the performance of its mining subsidiary, PT Pamapersada Nusantara (Pama).
United Tractors posted revenue of Rp 29.24 trillion ($3.25 billion) in 2009, up from 27.9 trillion a year earlier. The mining-contracting business contributed 53 percent, while construction machinery experienced a decline and contributed 37 percent. The remaining 10 percent was contributed by coal mining.
United Tractors, a unit of PT Astra International, now aims for its three core businesses each to contribute a third of total revenue, said Ari Setiyawan, who handles investor relations for the company.
“Now mining contractors pay a great share [of the firm’s revenue], because it [revenue] is calculated in one basket. When, for example, construction machinery declines as it did last year, we would like to explore other businesses, such as coal mining,” Ari said during a visit to the Globe Media group on Tuesday.
In 2009, revenue from construction machinery declined to Rp 10,981 trillion from Rp 12,368 trillion.
United Tractors plans to acquire mining contracts in two coal mines in Central Kalimantan, Hasnanto Wahyudi, general manager of the marketing division, said on Tuesday.
“They are greenfield mines, meaning they haven’t produced yet,” Hasnanto said, adding that potential production from the two mines was about 30 million to 40 million tons.
Hasnanto declined to name the mines, but they are likely to have similar specification to one it acquired in 2008, the Tuah Turangga Agung mine, which according to a Reuters report on April 6, has 40 million tons of reserves of mid- to high-energy coal with a value of about $115 million at $3 per ton.
Apart from Tuah Turangga Agung, United Tractors owns PT Dasa Eka Jasatama, which has mining concessions in South Kalimantan with coal reserves of about 38 million tons, according to local news media.
“The point is, we would like to double our current production,” Ari said, adding that the current production of Tuah Turangga Agung mine was about 500,000 tons of coal, and Dasa Eka Jasatama produced 3 million tons.
“Our expectation is that in the next three to five years, we can produce 10 million tons.”
Akhmad Nurcahyadi, an analyst for PT BNI Securities, said diversifying revenue from the coal business could improve the company’s performance.
“As far as I can see now, demand [for coal in the international market] is stable, but they have to start to be cautious because at some point demand for it will make an adjustment after it is oversupplied,” Akhmad said.
“It is not a wrong move if they want to secure other sources [of revenue] right now as the price [of coal] tends to increase,” Akhmad said, referring to the rising price of coal globally.
Source: The Jakarta Globe ( Reported By: Muhamad Al Azhari, Ardian Wibisono, & Faisal Maliki Baskoro)
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Saturday, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
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- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
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- Bahari Cakrawala Sebuku - Indonesia
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- Global Business Power Corporation, Philippines
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- White Energy Company Limited
- New Zealand Coal & Carbon
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- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
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- Ministry of Finance - Indonesia
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- Metalloyd Limited - United Kingdom
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- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
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- Directorate Of Revenue Intelligence - India
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- Bulk Trading Sa - Switzerland
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- London Commodity Brokers - England
- Latin American Coal - Colombia
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- Independent Power Producers Association of India
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- Trasteel International SA, Italy
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- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
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- Australian Coal Association
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- PTC India Limited - India
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- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
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- Dalmia Cement Bharat India
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- LBH Netherlands Bv - Netherlands
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- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
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- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Deloitte Consulting - India
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- Price Waterhouse Coopers - Russia
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- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
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- Indian Oil Corporation Limited
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- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
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- The University of Queensland
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